Apollo Medical Holdings, Inc. Reports Revenues and Results of Operations for Three Months Ended April 30, 2012

GLENDALE, Calif., June 22, 2012 /PRNewswire/ --  Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB-AMEH) today announced financial results for the three months ended April 30, 2012.

Financial Highlights for the three months ended April 30, 2012

• Revenues increased 56.7% to $1.63 million for the three months ended April 30, 2012 compared to $1.04 million for the three months ended April 30, 2011
• Gross profit increased 228.8% to $303,185 for the three months ended April 30, 2012 compared to $92,204 for the three months ended April 30, 2011
• Loss from operations was ($53,153) for the three months ended April 30, 2012 compared to ($187,444) for the three months ended April 30, 2011
• Non-GAAP Adjusted EBITDA was $55,772 for the three months ended April 30, 2012 compared to ($113,818) for the three months ended April 30, 2011

Other Events

ApolloMed continues to advance its business through new contracts and partnerships centered around medical management. As an example, in the first quarter, ApolloMed expanded 24 hour hospitalist service at five hospitals in the Covina, West Covina and Glendora areas of Los Angeles. We expect volume to continue to grow over time as existing partners leverage our presence at all our  hospitals. ApolloMed is also pursuing a number of new health plan and hospital contracts.

In addition to growing our core hospitalist business, we continue to explore new opportunities to leverage our market leading medical management expertise. In the first quarter, ApolloMed management invested in creating a new entity focused on obtaining a designation as an Accountable Care Organization ("ACO") as defined under the Medicare Shared Savings Program ("MSSP").  We believe that in establishing an ACO, ApolloMed will be able to leverage its medical management service offering and networks to improve patient outcomes while controlling costs.  ACOs participating in the MSSP will be able to share up to 50% of their achieved savings.

"We are pleased to report another quarter of record revenue and continued quarter over quarter growth," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings. "We will continue to execute on our strategy of organic growth. In addition, we believe that our coordinated care model and expertise in caring for medically complex patients makes us an excellent candidate to participate in the MSSP."    

*Use of Non-GAAP Financial Measures

In addition to containing results that are determined in accordance with accounting principles generally accepted in the United States of America (GAAP), this press release also contains non-GAAP financial measures. Adjusted EBITDA, as used in this press release, represents Loss  from Operations before depreciation, adjusted for issuance of shares for service, stock option expense, amortization of debt discount and impairment of intangibles and losses on discontinued operations. Adjusted EBITDA is a key indicator used by management to evaluate operating performance. While adjusted EBITDA is not intended to replace any presentation included in the consolidated financial statements under GAAP and should not be considered an alternative to operating performance or an alternative to cash flow as a measure of liquidity, the Company believes this measure is useful to investors in assessing the Company's ongoing operating performance and working capital requirements. This calculation may differ in method of calculation from similarly titled measures used by other companies. A reconciliation of adjusted EBITDA to the nearest comparable GAAP financial measure is included in the financial schedules accompanying this press release. The Non-GAAP financial measures, as well as other information in this press release, should be read in conjunction with the Company's financial statements filed with the Securities and Exchange Commission.

About Apollo Medical Holdings, Inc.

ApolloMed is a leading provider of integrated medical management services that improves the quality and efficiency of inpatient hospital care plus multi-disciplinary care management services targeting inefficiencies in healthcare payer and provider networks. The Company's integrated model combines hospitalist medicine, critical care medicine, 24-hour physician call centers, case management and transition management that offers to help healthcare organizations engage in performance payments for utilization efficiency, quality of care objectives and shared accountability arrangements. The company's strategy is to capitalize on the growing market for hospital-based physicians and care management services. 

Media Contact:

Nidia Flores
Apollo Medical Holdings, Inc.
818-396-8050
www.apollomed.net

SOURCE Apollo Medical Holdings, Inc.